The Global Sports and Leisure Equipment Market is expected to witness a stream in growth over the forecast period. An upsurge in awareness about health and fitness among the general public is predicted to propel the market for the next seven years. The desire for a healthy lifestyle and improved living can be attributed to the prominent reasons for this upsurge. Subsequently, it has created a high market capability for sports and leisure equipment.
The Global Sports and Leisure Equipment Market grew to USD 82,000 million in 2021, showing growth at a CAGR of +3%.
The growing interest in physical fitness and well being has fomented growth in the market for sports equipment and products used for recreational & leisure purposes. Potential customers, athletes, and gym personnel now demand products that are betided to meet their needs and expectations. The key market dealers have accentuated the manufacture of customized sports and leisure equipment & products that apt the customers’ requirements.
Globally improving economic scenario has created a storehouse of opportunities for both device retailers and the general public, and consequently has impelled market growth. Sports, besides providing health benefits, are now prehensioned as an outlet for personal accomplishments, statements of fashion, and a medium of social engagement.
Furthermore, rise in adult participation in sporting and leisure tasks has fueled the growth of the sports and leisure equipment market.
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Key Players: Adidas AG, Billabong International Limited, Cabela’s Inc., Callaway Golf Co., Dunlop Sports Group Americas Inc., Daiwa Seiko Corp., Kingswood Leisure Services, Nike Inc., Ningbo Supermax Sports & Leisure Equipment Co. Ltd., Premier Ports Services, Puma EC, The Forzani Group Limited, Sports Direct International PLC, and Yonex Co. Limited.
Use of carbon fiber in sports devices has accelerated market augmentation. In addition, the Sports and Leisure Equipment Market is gaining impetus due to the ingress of light-weight sports equipment. These are portable and distribute highly in terms of performance and subsequently have taken the market by storm. Moreover, they give flexibility and better control. An increase in per capita income, globally, is expected to propel the market growth over the projected period.
However, the market for the winter sports fragment is relatively low since the segment is limited with regional and seasonal restrictions.
A sizeable growth in the use of counterfeit sports and leisure equipment is expected to pose a key threat to market growth. The Sports and Leisure Equipment Market is highly vulnerable to impacting economic conditions. The global recession and tough macroeconomic conditions have adversely prevalence the Sports and Leisure Equipment Market growth. Fake equipment adversely affects the incomes as well as the brand name of the vendor.
The higher disposable income in the North American population countries like U.S. and Canada is expected to reinforce the market growth in this region. The soaring fascination for mountaineering and skiing activities has induced growth for the winter sports segment. High public lean towards sporting activities such as adventure sports and other recreational activities has drive growth in the European region.
In the Asia Pacific region, countries like China, and Japan are expected to evidence surges in demand. The improving economic conditions and increasing GDP levels in these countries can be imputed as major reasons dominating market growth. These countries, being developing economies, possess the high potential and plentiful opportunities for market growth. These opportunities are anticipated to propel the Sports and Leisure Equipment Market growth in the Asia Pacific region.
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The Global Sports and Leisure Equipment companies can be fragmented on the basis of products offered:-
- Ball Sports
- Adventure Sports
- Winter Sports
- Fitness Equipment
- Golf Equipment
In terms of revenue, the segment for ball sports confers the most to the entire sports and leisure equipment market.
The reason can be imputed to the variety of diverse sports included in the ball sports segment:-
- FootballThe sports equipment can include:-
- Sports Apparel
Growing concern with regard to health and fitness has speed-up the demand for fitness equipment.
The Winter sports segment consists of sports activities:-
- Alpine Skiing
- Cross-Country Skiing
Based on Region:
- North America
- South America
- Middle East and Africa
- Latin America
Detailed TOC of Sports And Leisure Equipment Market Research Report-
2. Market methodology Analysis.
3. Market Strategies Analysis.
4. Market Demand, Supply, Trends Analysis.
5. Market Overview with Key Players
6. Porte’s Five Force Model Analysis.
7. Market segmentation by Region, Type, and Application.
8. Market Advantages and Limitation Analysis.
9. Projects SWOT Analysis.
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